GDL vs. BALPX
GDL (The GDL Fund) and BALPX (BlackRock Event Driven Equity Fund Investor Class A) are both Event Driven funds. Over the past 10 years, GDL returned 3.89%/yr vs 5.81%/yr for BALPX. At a 0.36 correlation, their price movements are largely independent. GDL charges 0.03%/yr vs 1.51%/yr for BALPX.
Performance
GDL vs. BALPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDL achieves a 2.42% return, which is significantly lower than BALPX's 2.94% return. Over the past 10 years, GDL has underperformed BALPX with an annualized return of 3.89%, while BALPX has yielded a comparatively higher 5.81% annualized return.
GDL
- 1D
- 0.00%
- 1M
- 0.96%
- 6M
- 3.64%
- YTD
- 2.42%
- 1Y
- 7.46%
- 3Y*
- 8.32%
- 5Y*
- 4.49%
- 10Y*
- 3.89%
BALPX
- 1D
- 0.10%
- 1M
- 0.99%
- 6M
- 2.42%
- YTD
- 2.94%
- 1Y
- 5.17%
- 3Y*
- 6.55%
- 5Y*
- 3.97%
- 10Y*
- 5.81%
GDL vs. BALPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDL The GDL Fund | 2.42% | 11.83% | 5.94% | 9.02% | -6.88% | 8.04% | -0.99% | 5.87% | -1.60% | 4.74% |
BALPX BlackRock Event Driven Equity Fund Investor Class A | 2.94% | 8.19% | 3.98% | 5.15% | -0.25% | 1.61% | 6.03% | 7.16% | 5.12% | 6.88% |
Correlation
The correlation between GDL and BALPX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007 | 0.36 |
Over the past year, the correlation between GDL and BALPX has dropped to 0.12 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDL vs. BALPX — Risk / Return Rank
GDL
BALPX
GDL vs. BALPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The GDL Fund (GDL) and BlackRock Event Driven Equity Fund Investor Class A (BALPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GDL | BALPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.36 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.58 | -1.25 |
| Martin ratioReturn relative to average drawdown | 7.36 | 13.57 | -6.21 |
Loading charts...
Drawdowns
GDL vs. BALPX - Drawdown Comparison
The maximum GDL drawdown since its inception was -38.74%, smaller than the maximum BALPX drawdown of -47.69%. Use the drawdown chart below to compare losses from any high point for GDL and BALPX.
Loading charts...
Drawdown Indicators
| GDL | BALPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.74% | -47.69% | +8.95% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -1.51% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -3.30% | -2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -4.30% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -38.74% | -11.54% | -27.20% |
Current DrawdownCurrent decline from peak | -0.71% | -0.20% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -5.61% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.40% | +0.62% |
Volatility
GDL vs. BALPX - Volatility Comparison
The GDL Fund (GDL) has a higher volatility of 1.35% compared to BlackRock Event Driven Equity Fund Investor Class A (BALPX) at 0.89%. This indicates that GDL's price experiences larger fluctuations and is considered to be riskier than BALPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDL | BALPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.89% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 2.19% | +2.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.06% | 2.90% | +4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.61% | 4.07% | +4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 5.48% | +7.49% |
GDL vs. BALPX - Expense Ratio Comparison
GDL has a 0.03% expense ratio, which is lower than BALPX's 1.51% expense ratio.
Dividends
GDL vs. BALPX - Dividend Comparison
GDL's dividend yield for the trailing twelve months is around 5.69%, more than BALPX's 4.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BALPX BlackRock Event Driven Equity Fund Investor Class A | 4.06% | 4.18% | 3.88% | 1.93% | 2.55% | 2.57% | 3.01% | 3.35% | 1.84% | 5.02% | 9.00% | 77.25% |
GDL The GDL Fund | 5.69% | 5.67% | 5.99% | 5.97% | 6.12% | 5.38% | 5.28% | 4.30% | 4.36% | 5.96% | 6.50% | 6.39% |
Frequently Asked Questions
GDL and BALPX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDL has higher volatility (1.35%) compared to BALPX (0.89%). In terms of maximum drawdown, GDL dropped -38.74% vs BALPX's -47.69%.
BALPX currently has the higher Sharpe Ratio (1.87 vs 1.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for GDL and BALPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer